Written by Gary
Stocks close near record highs, pound wavers before UK election results (SPY +0.9%). US weekly jobless claims race to more than two-year high.
The Market in Perspective
| Here are the headlines moving the markets. | |
 | Stocks near record highs, pound wavers before election resultWorld shares took another run at record highs on Thursday, as the right messages from the U.S. Federal Reserve set traders up for a packed day of central bank meetings and a Brexit-defining election in Britain. |
| U.S. weekly jobless claims race to more than two-year highThe number of Americans filing applications for unemployment benefits jumped to more than a two-year high last week, but that probably does not signal a pickup in layoffs as the claims data tends to be volatile in the period following the Thanksgiving Day holiday. |
| Factbox: Nestle CEO Mark Schneider’s top deals over the past three yearsMark Schneider, Nestle’s first outside chief executive officer in almost a century, has made big strides in positioning the world’s largest food company for the future with aggressive deal making since taking over in January 2017. |
| Nokia, Daimler, others agreed to mediation to resolve licensing disputeNokia, German carmaker Daimler and several car parts suppliers have agreed to independent mediation to resolve their technology licensing dispute, the Finnish telecoms equipment maker said on Thursday. |
| Oil market to remain oversupplied despite deepening OPEC+ cuts: IEAGlobal oil inventories could rise sharply despite OPEC and its allies deepening their output cuts and slowing U.S. production growth, the International Energy Agency (IEA) said on Thursday. |
| Saudi Aramco hits Crown Prince’s $2 trillion goal despite valuation doubtsSaudi Aramco hit the $2 trillion target sought by de-facto Saudi leader Crown Prince Mohammed bin Salman on Thursday as its shares racked up a second day of gains, despite some scepticism about the state-owned oil firm’s value. |
| Ferrari CEO does not expect fully-electric model until after 2025Ferrari won’t have its first fully electric model ready until after 2025 as the battery technology requires more development, Chief Executive Louis Camilleri said, pushing back expectations. |
| Samsung to invest an extra $8 billion in China chip plant: mediaSamsung Electronics will increase investment at its chip factory in China by $8 billion to boost production of NAND flash memory chips, Chinese media reported on Tuesday. |
| Oil prices rise on OPEC deficit forecastOil prices rose on Thursday, recouping some of the previous session’s losses after OPEC forecast a supply deficit next year and the U.S. Federal Reserve said the economic outlook was favorable. |
| Trade-Deal Rumorgasm Sparks Stock Meltup To Record Highs, Bond BloodbathTrade-Deal Rumorgasm Sparks Stock Meltup To Record Highs, Bond Bloodbath It’s a deal… again…
And that was good enough for new record highs for stocks (for a brief second, Nasdaq was back to unchanged after the early trade deal rumors faded, but that didn’t last)… |
| Rep. Tlaib Blames “White Supremacy” For Shooting Carried Out By Black Supremacist GroupRep. Tlaib Blames “White Supremacy” For Shooting Carried Out By Black Supremacist Group Authored by Paul Joseph Watson via Summit News, Democratic Rep. Rashida Tlaib blamed œwhite supremacy for a shooting in New Jersey targeting a Jewish kosher grocery store which was carried out by a member of a black supremacist group. |
| Shutdown Averted? Republicans And Democrats Reach $1.37 Trillion Deal “In Principle”Shutdown Averted? Republicans And Democrats Reach $1.37 Trillion Deal “In Principle” Congressional negotiators have reached an agreement “in principle” on all 12 spending bills, which would avoid yet another government shutdown, House Appropriations Committee Chairwoman Nita Lowey announced while standing next to her Senate and Republican counterparts. |
| ‘Obama Wingman’ Eric Holder Launches Fast, Furious Attack On AG Barr‘Obama Wingman’ Eric Holder Launches Fast, Furious Attack On AG Barr Former Attorney General Eric Holder, the first AG in history to be held in both criminal and civil contempt by Congress for failing to turn over ‘Fast and Furious’ documents, says that current Attorney General William Barr is “nakedly partisan” and unfit for office. |
| How India can solve its $260-billion stressed debt problemHow India can solve its $260-billion stressed debt problemAn alternative investment fund (AIF) for our finance industry will at least rekindle sentiments. |
| Deloitte under lens again in IL&FS caseDeloitte under lens again in IL&FS caseNFRA has said that Deloitte failed to comply with auditing standards in carrying out statutory audit of IL&FS. |
| Rising retail prices stoke fears of stagflationRising retail prices stoke fears of stagflationAnnual retail inflation increased to 5.54% last month, faster than the 4.62% rate in October. |
| Facebook shares drop on report of possible FTC injunctionFacebook Inc. shares are down sharply on a report the Federal Trade Commission weighing a preliminary injunction as early as next month against the social-networking giant amid antitrust concerns over how its products interact. |
| ETF Edge: Want to invest in Saudi Aramco? There’s an ETF for that.One of the easiest ways to get in on the Aramco action is to invest in the iShares MSCI Saudi Arabia ETF, which is the only single-country exchange-traded fund for Saudi stocks. |
| The Margin: Disney is giving us Baby Yoda toys for ChristmasYou can now preorder plush and collectible toys of the breakout star of œThe Mandalorian on Disney+ from Amazon, Walmart and Disney.com |
Summary of Economic Releases this Week
Earnings Summary for Today
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